China to ban loophole used by tech firms for foreign IPOs - Bloomberg News
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FILE PHOTO: A computer network cable is seen above a Chinese flag in this July 12, 2017 illustration photo. REUTERS/Thomas White/Illustration
(Reuters) - China is planning to ban companies from going public on foreign stock markets through variable interest entities, closing a loophole used by the country's tech industry to raise capital from overseas investors, Bloomberg News reported on Wednesday, citing people familiar with the matter.
(Reporting by Sneha Bhowmik in Bengaluru; Editing by Arun Koyyur)
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